Law Firm Verifies Complicated Property Statuses to Simplify Court Reporting
When a loan is secured by multiple parcels and/or multiple deeds of trust, special care must be taken to ensure that all of the documents secure the properties. This is to verify the status of each property.
We were engaged by a law firm representing a bankruptcy trustee for a debtor whose main asset was a multimillion-dollar note and deed of trust. The deed of trust secured 20 parcels of vacant land in Southern California that had been in the process of subdivision for residential housing before the borrower defaulted.
We worked hand-in-hand with the attorneys to conduct a deep dive review into the trustee’s sale guarantee, which revealed that set parcels were tax delinquent (at different times) and that multiple parcels had been partially transferred to third parties. We created flow charts and profiles for each parcel so that the law firm could easily review the properties and report back to the bankruptcy trustee and the court.
Our Key Solutions:
- Hand-In-Hand Engagement with Attorneys
- Extensive TSG, Map, and Underlying Document Review
- Parcel Flow Chart and Profile Creation
- Process Streamlining